Charming Charlie Gets $13M Loan To Run Store Closings
Law360, Wilmington (July 12, 2019, 10:21 PM EDT) -- Bankrupt women’s accessory retail chain Charming Charlie received approval Friday from a Delaware judge to access a $13 million Chapter 11 loan to help fund the liquidation of more than 260 stores.
During a first-day hearing in Wilmington, debtor attorney Matthew M. Murphy of Paul Hastings LLP said Charming Charlie and its advisers worked diligently to avoid going out of business just 14 months after emerging from a previous Chapter 11 restructuring case, but that by Wednesday they were forced to make the difficult decision to shutter its stores.
“The company did work to implement everything they set out to do...
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